Item Second Irr. Trust Fbo Kyl Sells 53,843 Shares of Vertex, Inc. (NASDAQ:VERX) Stock

Vertex, Inc. (NASDAQ:VERX) major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares of the company’s stock, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Item Second Irr. Trust Fbo Kyl also recently made the following trade(s):

• On Monday, December 9th, Item Second Irr. Trust Fbo Kyl sold 13,346 shares of Vertex stock. The stock was sold at an average price of $55.13, for a total transaction of $735,764.98.
• On Wednesday, November 20th, Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock. The stock was sold at an average price of $52.16, for a total transaction of $2,136,786.56.

Vertex Stock Up 0.8 %

Vertex stock opened at $57.44 on Friday. The firm has a market cap of $8.96 billion, a PE ratio of 319.11, a P/E/G ratio of 8.30 and a beta of 0.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $54.06 and its two-hundred day moving average price is $44.50. Vertex, Inc. has a twelve month low of $24.17 and a twelve month high of $58.35.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. During the same quarter in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VERX. Envestnet Asset Management Inc. increased its stake in shares of Vertex by 10.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company’s stock worth $8,940,000 after purchasing an additional 22,514 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Vertex by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 668,178 shares of the company’s stock worth $24,088,000 after purchasing an additional 40,593 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Vertex during the 2nd quarter worth $68,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Vertex during the 2nd quarter worth $230,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Vertex during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Needham & Company LLC upped their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. DA Davidson assumed coverage on shares of Vertex in a research note on Tuesday, December 31st. They issued a “buy” rating and a $62.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Vertex Company Profile

Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools.